Maryland State Retirement & Pension System Buys 4,557 Shares of Agnico Eagle Mines Limited $AEM

Maryland State Retirement & Pension System grew its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,906 shares of the mining company’s stock after buying an additional 4,557 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Agnico Eagle Mines were worth $22,379,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AEM. Pure Portfolios Holdings LLC raised its stake in Agnico Eagle Mines by 1.6% during the 3rd quarter. Pure Portfolios Holdings LLC now owns 3,781 shares of the mining company’s stock worth $637,000 after acquiring an additional 60 shares during the period. HB Wealth Management LLC lifted its stake in shares of Agnico Eagle Mines by 1.2% during the 3rd quarter. HB Wealth Management LLC now owns 5,640 shares of the mining company’s stock valued at $951,000 after buying an additional 69 shares in the last quarter. Union Bancaire Privee UBP SA lifted its stake in shares of Agnico Eagle Mines by 1.6% during the 3rd quarter. Union Bancaire Privee UBP SA now owns 4,446 shares of the mining company’s stock valued at $749,000 after buying an additional 72 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its holdings in Agnico Eagle Mines by 59.7% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after buying an additional 74 shares during the period. Finally, Evergreen Capital Management LLC increased its stake in Agnico Eagle Mines by 0.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 8,232 shares of the mining company’s stock worth $979,000 after buying an additional 77 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AEM. CIBC upped their price objective on Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Zacks Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 4th. Jefferies Financial Group set a $189.00 target price on shares of Agnico Eagle Mines in a report on Sunday, December 7th. UBS Group raised their target price on shares of Agnico Eagle Mines from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, December 1st. Finally, Wall Street Zen cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 11th. Five analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Buy” and an average price target of $211.70.

Agnico Eagle Mines Trading Down 1.4%

Shares of AEM opened at $197.61 on Friday. The company’s fifty day simple moving average is $174.19 and its 200-day simple moving average is $155.92. The company has a market cap of $98.94 billion, a P/E ratio of 28.85, a P/E/G ratio of 0.61 and a beta of 0.63. The company has a current ratio of 2.12, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a twelve month low of $82.86 and a twelve month high of $201.95.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.76 by $0.40. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the firm posted $1.14 EPS. As a group, analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.